by Middle East conveyor belts market is widely used across variety of industries for transportation of materials over long or short distances both horizontally as well as inclined surfaces. Conveyor belts have proved beneficial in simplifying logistics processes of industries by efficiently transporting raw materials, in-process inventory, and finished goods.
The global Middle East conveyor belts market is estimated to be valued at US$ 214680.93 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Conveyor belts are commonly used in material handling applications across industries including mining, food and beverage, airport luggage handling, and e-commerce. They offer advantages such as reduced labor cost, flexibility of installation, continuous operation, safety, cleanliness, less floor space requirements. The growing industrialization and mining activities in the Middle East region has propelled the demand for conveyor belts for effective transportation of materials.
Market key trends:
Increased industrialization and mining projects in the region have accelerated the demand for conveyor belts over the past few years. Majority of new conveyor belt installations are taking place in industries such as cement, mining, food and beverage, and airports. For instance, growing steel production in Saudi Arabia has boosted the sales of conveyor belts in the country. Also, numerous mining project commencements for extraction of bauxite, gold, and other metals have augmented the consumption of conveyor belts across Middle East region. This trend is expected to continue and drive the Middle East conveyor belts market during the forecast period.
SWOT Analysis
Strength: The Middle East conveyor belt market benefits from the large infrastructure development projects taking place in the region. Growing construction and manufacturing industries are fueling the demand for conveyor belts.
Weakness: High operational and maintenance costs associated with conveyor belts poses a challenge. Fluctuating raw material prices affects the profit margins of belt manufacturers.
Opportunity: Increasing foreign direct investments in logistics, mining, and transportation sectors present an opportunity for market expansion. Investments in new power plants and airports will drive the sales of heavy-duty belts.
Threats: Political instability and security issues in some Middle Eastern countries create uncertainties. Strict environmental norms regarding material disposal can increase compliance costs.
Key Takeaways
The Global Middle East Conveyor Belts Market Growth is expected to witness high growth. Supported by relentless infrastructure spending, the region’s conveyor belts market size is forecast to touch US$ 3173.72 Mn by 2030.
Regional analysis
The Gulf region accounts for the largest share of the Middle East conveyor belts market currently. Countries such as Saudi Arabia, UAE, and Qatar are undertaking massive construction of airports, seaports, and railway projects. They are also investing heavily in mining and energy sectors. This makes the Gulf region the dominant and fastest growing market for conveyor belts.
Key players
Key players operating in the Middle East conveyor belts market are Al Kuwaiti Industrial Solutions, Ziligen A.S., Arabian Universal, Semperit AG Holding, Bridgestone Corporation, Schieffer Magam Industries Ltd., ContiTech AG (Continental AG), Phoenix Conveyor Belt Systems Gmbh, Derby Conveyor Belt Industry and Trade Inc., Kale Conveyor, FaBa Commercial Services, and Fenner Dunlop Conveyor Belting. These suppliers are focusing on manufacturing heavy-duty belts that can withstand high temperatures and rough outdoor conditions. Some players are also localizing production to meet regional demand.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
